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LB 183

Change provisions relating to the Uniform Disposition of Unclaimed Property Act

109th Legislature (2025-2026) Introduced by Barry DeKay

LB 183 modernizes unclaimed property rules by tightening privacy protections, restricting public access for records and finder fees, and updating notice publication requirements.

Approved by Governor on May 13, 2025
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Bill Summary · LB 183

LB 183 — Change provisions relating to the Uniform Disposition of Unclaimed Property Act

Status: Approved by Governor (May 13, 2025)

Purpose / Intent

LB 183 updates administration of Nebraska’s Unclaimed Property program (administered by the State Treasurer) to modernize public notice practices and restrict commercial access to unclaimed property records. The bill reduces the potential for misuse of owner information by commercial “locators” and clarifies confidentiality and disclosure rules.

Statutes amended

  • Amends sections 69-1311 and 69-1317, Revised Statutes Cumulative Supplement, 2024.
  • Repeals the original sections as replaced.

Key provisions and changes

  • Notice publication timing and scope (69-1311)

    • Eliminates the narrow March 1–10 publication window and requires the State Treasurer to publish an annual notice in an English-language legal newspaper of general circulation in each county in which a person named in the notice has a last-known address. If no address is known, publish in a statewide legal newspaper.
    • The published “Notice to Owners of Abandoned Property” must include: (1) names (in alphabetical order) and counties of last-known addresses of persons entitled to notice, and (2) a statement explaining how interested persons can obtain information (amount/description of property and holder) by contacting the State Treasurer.
    • The Treasurer is not required to publish items under $50 unless in the public interest. Separately, mailed notices to owners of property $50+ remain required within 120 days of receipt of holder reports.

  • Records access, confidentiality, and commercial locators (69-1317)

    • Unclaimed property records, holder reports, and information obtained through examinations/audits may be withheld from the public to the extent allowed by state or federal law.
    • Explicitly prohibits public inspection, copying, reproduction, or scrutiny of the State Treasurer’s unclaimed-property records by commercial or professional locators that charge for their services.
    • Records containing social security numbers, dates of birth, and last-known addresses are confidential and treated with the same confidentiality as Department of Revenue tax return information; the Auditor of Public Accounts retains unrestricted access.
    • Professional “finders’” fees are limited to 10% of the property’s dollar amount. To claim a fee, the finder must disclose nature, location, value, reporting information, and inform the owner that the State Treasurer can provide the property to the owner free of charge.
    • A finder may not charge for services until 24 months after names from holders’ reports have been published or officially disclosed.

  • Disclosure limited to appropriate parties

    • Withheld information may be disclosed to an apparent owner or to escheat/unclaimed-property officials of another state only if that other state affords substantially reciprocal privileges.

  • Fiscal disposition language left intact

    • Continues existing procedures for depositing unclaimed property into the Unclaimed Property Trust Fund and annual distribution (on or before Nov. 1) of balances in excess of $1,000,000 to the permanent school fund; allows deduction of costs into an Unclaimed Property Cash Fund.

Who is affected

  • Owners of unclaimed property: improved privacy protections and clearer notice/search instructions.
  • Commercial and professional locators/finders: restricted access to State Treasurer records, disclosure requirements, fee cap (10%), and timing restrictions (24 months).
  • Holders required to report unclaimed property: publication rules and confidentiality protections affect how identifying information is handled.
  • State Treasurer’s Office: implements revised publication process and enforces access/confidentiality rules.
  • Nebraska newspapers: annual county-level publication obligations for legal notices.
  • Auditor of Public Accounts and other states’ unclaimed-property officials (subject to reciprocity): retain access as specified.

Procedural timeline and status

  • Introduced: Jan 13, 2025 (Sen. Barry DeKay).
  • Committee hearing: Feb 5, 2025 (Government, Military and Veterans Affairs).
  • Committee amendment AM308 adopted.
  • Advanced through legislature; Final Reading passed 47–0–2 (May 9, 2025).
  • Presented to Governor May 9, 2025; Approved by Governor May 13, 2025.
  • Original sections 69-1311 and 69-1317 repealed and replaced as enacted.

Note: The enactment text does not specify an effective date within the provided materials; consult the official slip law or Secretary of State for the effective date.

Compiled from official sources — confirm details with the bill’s official record.

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